This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The 5 Dumbest Things on Wall Street This Week: April 13

2. Nokia's Population Problem

Poor Nokia (NOK - Get Report). If only the world had more Finns then perhaps the former telecom giant might not be so close to being finished.

Shares of the flailing phone-maker sank 16% on Wednesday to $4.20 a share after it warned that competition will hammer its first- and second-quarter results. The company's stock has lost more than half its value in the past year and over 80% of its market cap in the past 5 years.

Nokia didn't really offer much in terms of guidance for Wall Street analysts to chew on either, merely offering that operating margins in Q1 were "approximately negative 3%, compared to the previously expected range of 'around break-even, ranging either above or below by approximately 2% points."

Whatever that means.

Nevertheless, Wall Street's fortune tellers don't really need a crystal ball, let alone clear estimates to figure out Nokia's future anyway. Apple's (AAPL) iPhone and Google's (GOOG) Android pretty much sealed it a long time ago, and the company is now betting its continued existence on its new Windows-based Lumia smartphone.

Quick joke: How do you say Research in Motion (RIMM) in Finnish? Answer: Nokia. (And vice versa of course for all you Canadian speakers. EH! You hosers!)

But that's not the only chuckle we got when we were perusing Nokia's less than amusing release. We also got a snort when the company cited "multiple factors" as negatively impacting sales of cellphones "particularly in India, the Middle East and Africa and China."

So, in other words, the company that hails from a tiny nation of just over 5 million souls is having a tough time selling its products in countries with populations that add up to approximately 4 billion people.

That's a serious problem in any language.
4 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
BBY $28.20 0.00%
MOH $52.26 0.00%
NOK $5.96 0.00%
SNE $21.73 0.00%
AAPL $94.02 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs